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Probably best to ask this in the mining section, and I'm very much not an expert, but I think you're talking about ASIC's. ASIC stands for Application Specific Integrated Circuit. Essentially the processor is built to do one type of algorithm. So no, a mining rig can't mine any coin but they can mine some coins. Most coins that are available to mine use only a handful of different algorithms so you could pick which one you want to point your hash rate too.
That being said... my opinion of mining is that it's not something you can do as a hobby anymore if you want to make money. You're essentially competing against those that spend lots of money and know the returns rates inside and out. Their hash power is constantly being redirected to coins that have the highest return.
That being said... my opinion of mining is that it's not something you can do as a hobby anymore if you want to make money. You're essentially competing against those that spend lots of money and know the returns rates inside and out. Their hash power is constantly being redirected to coins that have the highest return.
I see Bitcoin mining rigs being sold and advertised, but never any for altcoins. Can a rig be used to mine any altcoin or only the coin it was designed to mine?
If I wanted to mine an Altcoin like Digibyte or QRL, would i have to find or make a specialized rig?
If I wanted to mine an Altcoin like Digibyte or QRL, would i have to find or make a specialized rig?
Excellent question, I would be keen to know about this as well.
Thanks
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